(RTTNews) - Rumble (RUM) announced that it has proposed to acquire Northern Data AG (NB2.DE), a provider of AI and High Performance Computing (HPC) solutions. Northern Data is willing to entertain further discussions with Rumble relating to the Potential Offer.
As per the terms of offer, the shareholders of Northern Data would receive newly issued Class A shares of Rumble common stock in exchange for their Northern Data shares tendered in the Potential Offer.
Each Northern Data shareholder that tenders its shares is expected to receive 2.319 newly issued Class A Rumble shares in exchange for each Northern Data share. The potential Offer would result in approximately 33.3% total pro forma ownership in Rumble for Northern Data shareholders, assuming all outstanding Northern Data shares are tendered.
Rumble noted that Tether, the majority shareholder of Northern Data, has expressed its support for the transaction. Chris Pavlovski, Rumble's Chairman and CEO, who continues to hold a majority of Rumble's voting power, has also indicated his support for the Potential Offer and has agreed to vote all of his Rumble shares in favor of the transaction via written consent.
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